Financial assistance and subsidies

Through the Affordable Care Act, you may be eligible for help with paying for your health insurance premiums. Find out if you qualify.

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Do you qualify for financial assistance?

The federal government may help you pay for your health coverage from Sharp Health Plan. Your modified gross income and family size will determine your financial eligibility. 

Number of People in Household Qualifying Annual Family Income Levels
1 $46,680 or below
2 $62,920 or below
3 $79,160 or below
4 $95,400 or below
5 $111,640 or below

Tax credits

Tax credits reduce the cost of monthly premiums. If you qualify for Monthly Premium Assistance, you can have your tax credit sent straight to Sharp Health Plan to reduce the amount you pay in premium during the year. You can also pay the full premium during the year and get a tax credit when you file your federal income tax form. It’s your choice.

The amount of tax credit you receive depends on your estimated household income and household size. Individual and families with lower incomes will get the most financial support. This includes individuals and families making up to 400 percent of the federal poverty level.

Cost-sharing reductions

Individuals and families who purchase a plan from Sharp through the Covered California Marketplace—and who have a household income at or below 250 percent of the federal poverty level – might qualify for cost-sharing reductions. If you qualify you can save on out-of-pocket costs with lower deductibles, coinsurance, and copays. 

 

Visit Covered California to see if you qualify and to apply for reduced-cost plans.

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